Funding Circle looks to raise 300 mln stg in London listing

1 Min Read

LONDON, Sept 10 (Reuters) - Funding Circle IPO-FNIG.L, the small business loans platform, said on Monday it would look to raise around 300 million pounds ($388 million) through a listing on the London Stock Exchange.

The listing, which will include both new and existing shares and be open to retail investors, should be completed in October, the company said.

Heartland A/S, the holding company of Anders Holch Povlsen, an investor in companies such as ASOS and Zalando, has agreed to purchase 10 percent of the issued ordinary share capital up to a maximum valuation of 1.65 billion pounds, it said. ($1 = 0.7742 pounds) (Reporting by Simon Jessop, editing by John O’Donnell)